Tax Alert India

Changes keep in mind while filing income tax return

noreply@blogger.com (Nitin Aggarwal) — Wed, 19 Jun 2013 05:23:08 PDT

The last date of filing income tax return is 31 July(except for corporate and tax audit case) for assessment year 2013-14. Income tax department made some changes in the rules of filing the...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

FAQs for TDS on property

noreply@blogger.com (Nitin Aggarwal) — Tue, 18 Jun 2013 06:03:17 PDT

1- What is TDS on property? The Finance Bill 2013 has proposed that purchaser of an immovable property (other than rural agricultural land) worth Rs 50 lakh or more is required to pay...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Assessee who required to furnish audit report is required to submit it same electronically

noreply@blogger.com (Nitin Aggarwal) — Tue, 18 Jun 2013 00:51:30 PDT

An assessee who is required to furnish a report of audit specified under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10, section 10A, clause (b) of sub-section (1) of...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

New format of form 15G and 15H with auto fill facility in excel

noreply@blogger.com (Nitin Aggarwal) — Mon, 17 Jun 2013 11:00:03 PDT

Income tax department changed the format of form 15g and 15h. These forms are the declaration as their income is less than threshold limit and hence no TDS is deducted on the income earned....

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

EXCEL BASED CALCULATOR FOR INTEREST ON SAVING ACCOUNTS

noreply@blogger.com (Nitin Aggarwal) — Sat, 15 Jun 2013 10:35:06 PDT

EXCEL BASED CALCULATOR FOR INTEREST ON SAVING ACCOUNTS: "Interest on saving account as you know Indian banks give some interests on the amount deposited in saving accounts. But we normally do not...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

6th Pay commission calculator for all pay bands

noreply@blogger.com (Nitin Aggarwal) — Sat, 15 Jun 2013 10:34:34 PDT

There are so many calculators for 6th pay scale but for different pay scales & there is a feeling of getting one calculator which should be excel based and should be all in one. So there is a 6th...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Banks will charge for sending SMS of account transactions

noreply@blogger.com (Nitin Aggarwal) — Fri, 14 Jun 2013 11:00:04 PDT

Banks will charge for sending SMS for transactions in account. This is the new move to forfeit the money of the account holder. We often subscribe for SMS banking in which a SMS comes whenever we...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Excel short cut and keys

noreply@blogger.com (Nitin Aggarwal) — Thu, 13 Jun 2013 11:00:03 PDT

Microsoft excel became necessity now a days as it has a lot features that makes calculations very fast and easy. Also keeping the data as well as sending as attachments is quite simple. But excel has...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Income tax return form ITR 4 for AY 2013-14 in excel

noreply@blogger.com (Nitin Aggarwal) — Thu, 13 Jun 2013 05:52:07 PDT

Income tax department issued income tax return form ITR-4 for the assessment year 2013-14 in excel. Earlier deaprtment also issued ITR-1 SAHAJ, ITR-2, ITR 3 and ITR-4S SUGAM for in excel format for...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Income tax return form ITR-5, ITR 6 and ITR-7 for assessment year 2013-14

noreply@blogger.com (Nitin Aggarwal) — Wed, 12 Jun 2013 10:30:00 PDT

Income tax department issued new income tax return form ITR-5, ITR-6 and ITR-7 for the assessment year 2013-14. Earlier, the department issued SAHAJ, ITR-2, ITR-3 and ITR-4S SUGAM income tax return...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Income tax new rule 10AB and new form 3CEB

noreply@blogger.com (Nitin Aggarwal) — Wed, 12 Jun 2013 04:40:26 PDT

Income tax department amend the rule of income tax and insert new rule 10AB and new form 3CEB for international and domestic transactions. Income tax department has issued a notification no. 41/2013...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Vehicle registration provided by company to buyers is not business support service

noreply@blogger.com (Nitin Aggarwal) — Tue, 11 Jun 2013 06:26:12 PDT

Rendering of assistance by a motor car dealer to its buyers in getting motor vehicle registration done cannot, prima facie, be regarded as 'Business Support Services' In the instant case, the...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

All about employees provident fund EPF

noreply@blogger.com (Nitin Aggarwal) — Sun, 09 Jun 2013 11:00:03 PDT

If we ask one about the Employees Provident Fund (EPF), most common reply will be the EPF is the part of salary in which the employees contribute 12% of the basic wages and same contribution is to be...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Income tax return form ITR1, ITR 2, ITR3, ITR 4S SUGAM in excel A Y 2013-14

noreply@blogger.com (Nitin Aggarwal) — Sun, 09 Jun 2013 03:17:34 PDT

Income tax department issued ITR-1(SAHAJ), ITR-2, ITR3, and ITR 4S(SUGAM) forms in excel format for the assessment year 2013-14. These forms are used for filing income tax return as assessee are...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

INTEREST ON FIXED DEPOSIT CALCULATOR

noreply@blogger.com (Nitin Aggarwal) — Sat, 08 Jun 2013 10:45:00 PDT

As the name suggests it's an investment in which one has get the fixed amount of interest on its deposit.It's the investment for very less risky person who wants their money in very safe hands.The...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

ITR 3 for assessment year 2013-14 in excel free download

noreply@blogger.com (Nitin Aggarwal) — Sat, 08 Jun 2013 04:40:07 PDT

Income tax department has issued income tax return form ITR-3 in excel for the assessment year 2013-14. Earlier income tax return forms ITR issued in pdf format. Now Sahaj, Sugam, ITR-2 and ITR-3 are...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

ITR-2 for assessment year 2013-14 in excel free download

noreply@blogger.com (Nitin Aggarwal) — Sat, 08 Jun 2013 04:28:05 PDT

Income tax department has issued income tax return form ITR-2 in excel for the assessment year 2013-14. Earlier income tax return forms ITR issued in pdf format. Now Sahaj, Sugam, ITR-2 and ITR-3 are...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Cost Inflation index for financial year 2013-14

noreply@blogger.com (Nitin Aggarwal) — Fri, 07 Jun 2013 03:57:24 PDT

Income tax department has notified Cost inflation index(CII) for the financial year 2013-14. Income tax department issued every year CII figure which shows the inflation figure and it is very useful...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Banks need to issue acknowledgement slip while receiving form 15G and 15H

noreply@blogger.com (Nitin Aggarwal) — Thu, 06 Jun 2013 00:33:20 PDT

Reserve bank of India sees some cases where the customers gives form 15G and 15H to the bank but still banks deduct the TDS. This is due to the lack of management as well as lost the papers practice...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

TDS on property new rule and forms

noreply@blogger.com (Nitin Aggarwal) — Wed, 05 Jun 2013 06:39:39 PDT

As per Finance Bill of 2013, TDS is applicable on sale of immoveable property wherein the sale consideration of the property exceeds or is equal to Rs 50,00,000 (Rupees Fifty Lakhs). Sec 194 IA of...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Income tax calculator for all the financial year

noreply@blogger.com (Nitin Aggarwal) — Mon, 03 Jun 2013 10:20:44 PDT

People need to search and download different calculators for different financial years as income tax slabs generally change in each year in budget. So it is a boring as well as complex work to have...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

No TDS on brokerage paid by agent to sub-broker for dealing on securities

noreply@blogger.com (Nitin Aggarwal) — Mon, 27 May 2013 01:42:45 PDT

Sub-brokerage paid by an agent to sub-agents for services rendered in connection with securities/mutual funds is outside the purview of section 194H In the instant case, the assessee-firm,...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Provision for free transport to employees is not a service

noreply@blogger.com (Nitin Aggarwal) — Wed, 22 May 2013 02:14:33 PDT

Provision of free transport facility provided to employees for business purposes cannot be regarded as 'service' because work done and wages received are independent of use or otherwise of such...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Things to consider before taking a home loan

noreply@blogger.com (Nitin Aggarwal) — Mon, 20 May 2013 06:29:24 PDT

Many of us dreams for buying a home today. Properties prices are neutral or down as well as the rate of interest on home loan. But there are many factors to be considered before applying for a home...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

EXCEL BASED SALARY CALCULATOR FOR FIRMS

noreply@blogger.com (Nitin Aggarwal) — Sat, 18 May 2013 10:20:55 PDT

Salary calculator:- In a firm or small company where the number of employees are upto 50, there is always a need of a salary calculator which can calculate the salary of full month. Because...

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]